Hi guys, I need to hear some of your opinions about pricing thing. What if you are more expensive than your competitors? What if your potential customers said that your product/service is more expensive than the store next to you? What is your answer to make them BUY yours? And please, please don't answer; "lower the price!" Even my dog can give such an 'articulate' answer like that. And he's already dead. So what is your answer? Thanks
I would say that the thing i sell is far more have quality that my competitor. Plus i will give some personal service such as reserve the parking lot for my customer when they visit.
Explain all the features that you have and why your better then your competitor.. If you charge more then you better have a reason, otherwise its bad business in the first place.
I thin, you should put forward your best feature in front of the buyers, like your quality work, and then make them realize it is affordable
well the most important thing for you to do is to convince the potential customer of the quality of your work. When you are able to do that, they will be willing to pay higher prices aslong they are still fair
Focus on the value you offer, and the pain it addresses. It's not about features, but always benefits, and value. Of course, it has to be good value, and better or comparable to your competitors. Give good service, build a reputation (Brand), give excellent value, and address a real need or pain. Oh, and believe in yourself.
Woodley is right. When you're the most expensive you have an inbuilt advantage in some markets. Think about the perceived value of a home-study copywriting course. If I tell you it's only $50 you might think it's not up to much. But if I tell you it's $5K then you think, that course must be life-changing! Keep in mind... In order to buy the consumer needs to know that you will bring her more value than the other guy... and... more value than the money she has in her pocket. If you can make that sale then you'll visit the bank more often.
Cronik is right. If you charge more than your competitor than you better have a good reason. You can't just charge more because you want to make more money. That is not a good way to make more money. You could come up with some ideas such as: - My hours of operation are longer than competitior's so I am here for you longer. - I have a warranty on such and such product. - If you are not satisfied I will gladly take it back within "so many" days. - I will give you my blackberry email so if you have a problem just shoot me an email. So, my point is you better give some advantages to the customers if you are charing more.
Quite simply, a better product or service is worth more. I charge more than many in my field, but I also know that my writing is worth it, and I have clients who happily pay me the amount I charge. If everyone starts lowering their prices and undercutting one another, everyone will lose out in the end. There will always be a "bargain basement" and a "top-quality" of everything, from clothing to ebooks, and I'd rather be known as the Nordstrom of my market than the Wal-Mart.
To sell, you should have quality of product and/or Service. If you have quality, customer will be ready to pay higher price without any problem.
Don't try to compete on pricing alone. You should define your self in terms of a USP (unique selling proposition) essentially what things do you do well? Do you provide top notch customer service, is your quality superior? You get the idea.
If your product or service seems to be the same as everyone else's then price matters. If you differentiate your product or service then apples to apples comparison becomes necessary to good customers.
Well it all depends in the quality. If you're product is too expensive, then it should have to be different from the other. Quality is better than quantity. Salestalk is also very important in this matter.
You have to make sure that the elements which affects customers' choice of products not only inlcude price, but also product quality and service (including both before and after service.), etc. Therefore, as long as the price you ask for sounds reasonable, and your product compared with your competitors are much more reliable and the service you offer are friendly enough, customers are more inclined to choose you but not your competitors.
The prices of services and products is a great teller of quite a few things. It hints towards the quality of the work, the professionalism (ie. whether your legitimate or just desperate), and lastly self esteem. You should be confident in your work to the point that you know what normal people would pay for it depending on the quality. Now to be sure that you're not over or underselling your work you need to check out a few of the competitors' workmanship. Test the quality in relation to their price and reputation to see if you can come up with something comparable to your own work, and that should help you get an idea of where you stand.
You need to give your customer more for their money. It is called "perceived value". This is mostly done through customer service. Since you don't mention what you are selling, I really can't get any clearer than that.